Svmuu reported that data from blockchain security firm CertiK shows total losses in the crypto sector from hacks, vulnerabilities, and scams in May 2026 were approximately $68.3 million. This represents a nearly 90% decline from the over $650 million in losses recorded in April, making it the third month this year where losses fell below $100 million. Phishing attacks accounted for about $2.6 million of the losses.
In April, industry losses surged due to two major attacks on Drift Protocol and KelpDAO, which together accounted for approximately 95% of the month's losses, making April one of the most devastating months for losses in recent years.
The institution reminds that while large-scale protocol-level attacks have decreased, risks such as phishing, deepfakes, and credential leaks are on the rise, with the focus of attacks increasingly shifting towards personnel and identity systems. The decline in losses this time is merely due to the absence of major security incidents; the overall security risks in the industry have not been fundamentally eliminated. Cross-chain bridge vulnerabilities and insider threats remain primary risks. (Financefeeds)